Mythical Lotus Foundation

Analysis

Mythical Lotus Foundation is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in June 2020, 6 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mythical Lotus Foundation reported income of $1.5m and spending of $606k, leaving 60% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $359k to $1.5m (+320%), an average of +61% a year. The sharpest change came in the year to December 2021, when income rose by 261%. Over the whole period it spent 58% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mythical Lotus Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include Landmark on Main Street Inc ($1.5m), Winter Park Playhouse Inc ($1.5m) and Coalition of Asian American Leaders ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $2.5m against liabilities of $0, net assets of $2.5m.